Posts Tagged ‘irs’

Just another Tax Blog Post

Posted April 8, 2009 by Bernz

Well I decided to post another tax topic this week being the last week to file income taxes for most filers. Besides tax is probably the biggest unavoidable expense everyone needs to pay every year.

incometax

Here are some really basic tips which may be beneficial to you, although some of these maybe a little too late to avail of the deductions you are entitled to.

1. File Electronically – doing this will minimize errors and help you get a refund in two weeks. The tax- preparer are most likely filing e-files but you can do this yourself. The IRS has already partnered with preparers in order to provide free tax preparation and e-filing on the internet.

2. Child Tax Credit – parents can save a certain amount in taxes by having dependents. However, it is important to note that there are technical definitions about what constitutes as a “child”. In addition, if you are hiring someone to watch over a child under the age of 13, you can quality for child tax credit as well. (more…)


Posted in Financial Education, Misc, Tax Reduction | No Comments »

It’s Tax Time Once Again – Tax Mistakes You Need to Avoid

Posted April 6, 2009 by Bernz

Using tax preparation software has a lot of benefits. It allows many people to submit accurate tax returns. However, it is important to remember that even one error in your computer can cost you a lot of money.

irs

To give the right information to the IRS promptly, it is important to avoid the common pitfalls.

Here are some mistakes people commit every year during the tax filing season:

• Direct Deposit Pitfalls –Although it can help you save money on refunds, the chance of committing mistakes is also great. Giving the wrong routing number of account number can let you lose your refund completely. Make sure that you file every donation you have given for the past year. Follow the donation tax rules completely. Take note that the amount is only deductible if the organization has a tax-exempt standing with the IRS. (more…)

Posted in Tax Reduction | No Comments »


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